Crash Corrigan, a recent graduate of Annapolis, and Diana, a go-getting reporter, join Professor Norton for a search for the source of a string of earthquakes, Atlantis. They ride Prof. Norton's rocket submarine searching the sea and little Billy Norton, the professor's son stows away, of course. When they find Atlantis they are caught in a war between peaceful Atlanteans, note their white capes, and war-monging Atlanteans, note their black capes. After many harrowing moments for Crash, Diana, Prof. Norton and Billy, they barely get away with their lives when they escape a tower of Atlantis raised to the surface for the sole purpose of dominating or destroying the Earth (Which one depends on the compliance of the upper world dwellers.)

Movie Tagline:
BATTLING UNKNOWN TERRORS IN A LAND OF PERIL UNDER THE OCEAN'S FLOOR! (original 1936 poster)

Prof. Norton: There was that signal again. They've been sending it every five minutes. Diana Compton: They? Just whom do you mean by they? Crash Corrigan: Professor Norton maintains that these signals must be the work of some human agency apparently coming from the bottom of the ocean Diana Compton: I hope you're not going to spring that fantastic yarn about the lost continent of Atlantis. Prof. Norton: Exactly - only now I have some definite evidence.

Prof. Norton: And this was where the ancient continent of Atlantis was reported to have sunk thousands of years ago. Contrary to popular belief, Atlantis did not sink overnight, but during a period of years. During this time, the people had ample opportunity to construct a roof of orecalcum over the city and keep out the ocean waves. Thus Atlantis, though lost, still lives.

Sharad: There will be no peace in Atlantis until we have broken the power of this evil usurper, Unga Khan.

Unga Khan: Recall the troops. With those religious fanatics under control, I'll have no more interference with my plans to destroy the upper world!

Movie Trivia:

The serial was completed in 25 days.

An edited, 100-minute long feature version called "Sharad of Atlantis" was made for television

When Republic Studios learned that Universal was producing their "Flash Gordon" serial, they rushed this serial, using similar plot elements, into production.